Cautionary Statement

This resource contains certain forward-looking statements, including “forward-looking” statements made within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as “believe,” “anticipate,” “could,” “may,” “would,” “should,” “intend,” “plan,” “potential,” “predict,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy,” “outlook,” “target,” “being confident” and similar expressions. These include statements regarding our intentions, beliefs or current expectations concerning, amongst other things, our results of operations prospects, growth, strategies and the economic and business circumstances occurring from time to time in the countries and markets in which the Group operates. In particular, these forward-looking statements include, among other statements, statements regarding the Group’s ambition to have 50 million consumers of its Smokeless Products by 2030 and to achieve at least 50% of the Group revenue from Smokeless Products by 2035 and the necessary further adoption of Smoking Products globally, the Group’s expectations with respect to the Tobacco Harm Reduction profile of its Smokeless Products, the development and marketing of new Smokeless Products, scientific research with respect to Smokeless Products and engagement with stakeholders.

All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors. It is believed that the expectations reflected in this resource are reasonable but they may be affected by a wide range of variables that could cause actual results and performance to differ materially from those currently anticipated.

Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are uncertainties related to the following: the impact of increased competition from illicit trade and illegal products; changes or differences in domestic or international economic or political conditions; the impact of adverse domestic or international legislation and regulation of tobacco, New Categories and other regulation; the impact of supply chain disruptions; adverse litigation and external investigations and dispute outcomes and the effect of such outcomes on the Group’s financial condition; the impact of significant increases or structural changes in tobacco, nicotine and New Categories related taxes; the inability to develop, commercialise and deliver the Group’s New Categories strategy; adverse decisions by domestic or international regulatory bodies, including disputed taxes, interest and penalties; the impact of serious injury, illness or death in the workplace and those who work with the business; the ability to maintain credit ratings and to fund the business under the current capital structure; translational and transactional foreign exchange rate exposure; direct and indirect adverse impacts associated with climate change (both physical and transition); the ability to deliver a viable circular business model in response to global demand, combined with increasing regulatory, stakeholder and consumer pressure; and the Group’s ability to defend against Cyber & Digital actions that result in loss of confidentiality, availability or integrity of systems and data. Further details on the principal risks that may affect the Group can be found in the ‘Group Principal Risks’ section of the Strategic Report on pages 166 to 175 of the Annual Report for the year ended 31 December 2025. A summary of all the risk factors (including the principal risks) which are monitored by the Board through the Group’s risk register is set out in the section under Item 3.D – Risk factors in the 2025 Annual Report on Form 20-F of BAT, which may be obtained free of charge at the SEC’s website, https://www.sec.gov and the British American Tobacco website, https://www.bat.com.

Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The forwardlooking statements reflect knowledge and information available at the date of preparation of this resource and the Group undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on such forward-looking statements.

No statement in this resource is intended to be a profit forecast and no statement in this resource should be interpreted to mean that earnings per share of BAT for the current or future financial years would necessarily match or exceed the historical published earnings per share of BAT.

Products sold in the U.S., including Vuse, Velo, Grizzly, Kodiak, and Camel Snus, are subject to FDA regulation and no reduced-risk claims will be made as to these products without agency clearance.

Unless otherwise stated, any statements contained within referring to “Hilo”, “glo Hilo” or “Hilo plus” refers to the “glo Hilo plus” device. Unless otherwise specified, any statements contained within referring to “glo” do not refer to “Vapour Devices” under the associated brand name but specifically “Heated Products”. Unless otherwise specified, any statements contained within referring to “Vuse” respectively relate to Vuse devices that were on the market as of 1 January 2026.